Is crypto against fiat? Or is fiat against crypto? Do we think we’ll get to a point where the world will not need fiat anymore? These and more are questions that are being asked in the global financial market. Since bitcoin was used to make the first crypto transaction, the world started paying attention to the value of the asset.
However, there is also a need to think about the balance between crypto and fiat. According to Investopedia, 7% of all global money is in crypto. This value looks low but the rate at which crypto adoption is rising can make that figure go up. Apart from the fiat-crypto pull, there is a market effect caused by the appearance of stablecoins. Stablecoins were created to reduce the volatile effect found in the crypto market.
And so today, global finance can be seen through fiat, crypto, and stablecoins amongst other assets. Then, for citizens around the world, knowing how to use these three asset classes in their favor becomes an advantage that is needed in today’s world… so that whether it’s fiat or crypto or stablecoins, anyone can easily navigate the global financial market. Globiance is one such platform that has been designed as a crossroads between fiat, crypto, and stablecoins.
What is Globiance?
Globiance is a financial services group that is made up of cryptocurrency exchanges and financial institutions situated in different parts of the world. From North and South America, Europe, to Africa, Asia, and Australia.
The goal of Globiance, which started in 2018, is to provide financial services for corporate and retail customers. Here users can find a fiat-crypto-stablecoin system that enhances financial transactions of any class built on the XinFin facility.
Overview of XinFin Network
XinFin is a service that runs on the XDC network. The platform aims to provide blockchain enterprise services that enable businesses and government institutions to utilize blockchain technology easily.
The XDC network supports smart contracts, has a Transaction Per Second rate of 2000, and requires KYC processes for usage. It is run by a token called XDC which uses a Delegated Proof of Stake mechanism aiding fast transaction and scalability of projects built on it. On XDC, small businesses, banks, institutions – private and public – can have utilities built that maximize the advantages of blockchain technology. And that is why Globiance is built on XDC.
Features of Globiance
Globiance is designed to bring the full integration of fiat, crypto, and stablecoins into the mainstream. And here are the features that make that possible in the platform:
On the Globiance platform is a decentralized exchange (DEX) that offers a peer-to-peer marketplace for trading cryptocurrencies between traders. This function makes it possible for cryptocurrencies to be transacted without banks and brokers which is seen in the forex market.
- Presence of an Exchange Token
GBEX (Globiance Exchange Token) is an XRC20 token that functions within the Globiance environment. Note that it doesn’t exist on BSC or ERC20 so that you don’t fall for scams. GBEX has a total supply of 500 Trillion.
The token has some structures put in place for sustainability: an anti-whale dump pattern that makes sure that only 0.5% of the token can stay in a single wallet; discounts are given to holders of GBEX tokens as well as those who pay using GBEX tokens; 4% tax is collected whenever a user sells GBEX with 50% burned and the other distributed to holders).
Businesses are allowed to open business accounts on the platform that can be used to transact crypto and fiat currencies globally. This breaks the currency limit for businesses and bureaucracy created by government policies across nations.
Users of Globiance can use these stablecoins launched on the platform SGDG, EURG, HKDG, GBPG, USDG, and many more. These stablecoins are suited for local currencies like Singaporean Dollar, Euro, United States Dollar integrated into the Globiance financial system.
There are plans to add more stablecoins like HKDG, CNYG, JPYG, USDG, KRWG, and more to reach other African and Asian markets. Just like Globiance requires KYC for users, all stablecoins in the system are fully compliant with KYC/AML and CFT regulations.
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Challenges and Road Map of Globiance
The most dominant challenge with the fiat-crypto market is the competition that is rising. Some platforms offer users the ability to combine crypto with fiat, exchange between the two, buy and sell as well as launch projects on those with blockchain launchpads.
Most of the utilities mentioned are yet to go around the regions mentioned at this stage. And this might affect the adoption of the platform at this initial stage.
The services of Globiance are only available in Europe, BVI, Switzerland, South Africa, Turkey, the USA, and Australia. Plans are that in Q1/2022, it will get to Argentina, Chile, Colombia, Peru, Paraguay, Mexico, and Brazil. And then, Singapore, Thailand, Japan, Korea, Malaysia, Vietnam, and UAE by Q1/2023.
Team and Partners Behind Globiance
Irina La Rosa is one of the Co-Founders of Globiance and serves as the Chief People Officer. As a former founder of successful organizations, she understands how to manage teams. Irina has a background in Psychology and has worked as General Manager and Junior Manager in two organizations.
Oliver Marco La Rosa is the Chief Executive Officer and a Co-Founder of Globiance. He has in-depth insight into the banking industry with over 13 years of servicing European banks. Oliver also understands the application of IT in banking to service customers.
Another Co-Founder of Globiance is Alexander Pfau who is serving as Chief Technology Officer. He is known for being international consulting services, and information management. Alex has been Project Manager for ECMSM and Head of Digitization and Technical Controlling at REISS Büromöbel GmbH.
Sascha La Rosa is among the four Co-Founders and takes the role of Head of IT Support. He has trained Military personnel in IT applications, built huge experience in network and security with a focus on software development.
Other members are Philip Markland, Chief Information Officer & Director UK; Georgi Georgiev, Head of Banking; Lilit Badalyan, Head of Compliance; Roy Wong, Director Singapore; Rutt Moelter, Director Estonia; Steven Mc Gowan, Director Australia; Mervin Murray, Director Australia; Mauricio Carrillo Palacio, Head of Americas; Olivier Richard, Director Switzerland; Gilbert Oliva, Head of Sales & Director USA; and Bruce Ducharme, Director Canada.
Conclusion
Globiance is a project focused on driving the adoption of cryptocurrency. It “… represents a significant opportunity to set a new standard of transparency and auditability in digital currencies and will help drive trust and mass adoption of stablecoins,” says Oliver Marco La Rosa, the CEO of Globiance.
And this revolution has started in Europe going through Asia, Africa, USA, and will be made available to the rest of the world.
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